All Forum Posts by: Chris Thompson

Thanks for the input but you can keep the rude and condescending comments. I understand deferring the taxes forever from an estate planning perspective but that isn't my plan. I will eventually sell these properties and will have to pay all of those deferred taxes. Do I pay now or pay later? What are the advantages of paying later?

I currently have a rental property for sale. I spoke to my accountant about doing a 1031 exchange. His advice was pretty simple. I can pay the known tax rate of 15% today or hope that the tax rate doesn't increase and pay the taxes somewhere down the line. I compare this to a Traditional IRA vs. a Roth IRA. My accountant advised that I pay the taxes now and skip the 1031 exchange because taxes will most likely be higher in the future and will almost certainly not be lower. Looking for other opinions on this.